BTC Volatility Analysis for Retail Sales, 14th October 2022

Data Analysis

The data released by Bureau of Census for Retail Sales on 14th October, 2022 has come in at a decrease to -0.3% for September 2022. Compared to the previous release for August 2022 at 0.6%, we can see that consumer sentiment is still decreasing month over month.

To see the impact and volatility of BTC's price during the Retail Sales release, we will first observe the difference in volume and price changes on the 4-hours chart, followed by the 15-minutes chart. Change in prices will be be determined by the high and low prices instead of the opening and closing prices.

4-Hours Chart Analysis

In the period prior to the release, the trading volume was 50,465 BTC with prices swinging between 19,530.00 and 19,748.54, representing a swing of 1.11%. Subsequently, the trading volume increased significantly by 112% to 106,811 BTC. Price action ranged from a low of 19,220.73 to a high of 19,854.48, a significant difference of 3.19%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 3,172 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 19,595.00 to a high of 19,667.73, a 0.37% change. Immediately following, trading volume increased significantly by 124% to 7,115 BTC. At this time, Bitcoin hit a low of 19,556.77 with a high of 19,726.97, a significant change of 0.86%.

About Retail Sales

The U.S. Census Bureau publishes the Retail Sales report every month. It is a measure of consumer spending, an important indicator of the US GDP. Retail firms provide data on the dollar value of their retail sales and inventories. A sample of 12,000 firms is included in the final survey and 5,000 in the advanced one. The advanced estimated data is based on a subsample from the USCB complete retail & food services sample.